Stony Point Capital LLC Has $11.69 Million Stock Holdings in ServiceNow, Inc. $NOW

Stony Point Capital LLC increased its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 100.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,679 shares of the information technology services provider’s stock after acquiring an additional 7,366 shares during the quarter. Stony Point Capital LLC’s holdings in ServiceNow were worth $11,687,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Bogart Wealth LLC increased its position in ServiceNow by 113.3% during the first quarter. Bogart Wealth LLC now owns 32 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 17 shares during the period. Graybill Wealth Management LTD. bought a new stake in shares of ServiceNow during the 1st quarter valued at approximately $26,000. Quarry LP bought a new stake in shares of ServiceNow during the 4th quarter valued at approximately $27,000. WASHINGTON TRUST Co grew its holdings in shares of ServiceNow by 620.0% during the 1st quarter. WASHINGTON TRUST Co now owns 36 shares of the information technology services provider’s stock valued at $29,000 after purchasing an additional 31 shares during the last quarter. Finally, Dagco Inc. bought a new stake in shares of ServiceNow during the 1st quarter valued at approximately $33,000. 87.18% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on NOW. Wells Fargo & Company lifted their target price on shares of ServiceNow from $1,150.00 to $1,225.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. Royal Bank Of Canada lifted their price objective on shares of ServiceNow from $1,060.00 to $1,100.00 and gave the company an “outperform” rating in a research note on Tuesday, May 6th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $1,200.00 price objective on shares of ServiceNow in a research note on Thursday, July 24th. Scotiabank set a $1,100.00 price objective on shares of ServiceNow and gave the stock an “outperform” rating in a report on Wednesday, May 7th. Finally, DA Davidson upped their price objective on shares of ServiceNow from $1,150.00 to $1,250.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, ServiceNow has a consensus rating of “Moderate Buy” and an average target price of $1,115.20.

Insiders Place Their Bets

In related news, CFO Gina Mastantuono sold 1,762 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $866.45, for a total value of $1,526,684.90. Following the sale, the chief financial officer directly owned 12,228 shares of the company’s stock, valued at $10,594,950.60. This trade represents a 12.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO William R. Mcdermott sold 1,585 shares of the firm’s stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $900.00, for a total transaction of $1,426,500.00. Following the completion of the sale, the chief executive officer directly owned 12,439 shares in the company, valued at $11,195,100. This represents a 11.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,302 shares of company stock valued at $10,956,796 over the last three months. Corporate insiders own 0.38% of the company’s stock.

ServiceNow Price Performance

Shares of NYSE:NOW opened at $928.80 on Friday. The company has a 50-day moving average price of $946.91 and a two-hundred day moving average price of $926.16. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. ServiceNow, Inc. has a twelve month low of $678.66 and a twelve month high of $1,198.09. The firm has a market capitalization of $193.19 billion, a PE ratio of 116.98, a P/E/G ratio of 4.01 and a beta of 0.93.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, July 23rd. The information technology services provider reported $4.09 EPS for the quarter, beating analysts’ consensus estimates of $3.57 by $0.52. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The company had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.12 billion. During the same period last year, the business earned $3.13 earnings per share. ServiceNow’s revenue was up 22.4% compared to the same quarter last year. Equities analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current year.

ServiceNow Profile

ServiceNow, Inc provides end to-end intelligent workflow automation platform solutions for digital businesses in the North America, Europe, the Middle East and Africa, Asia Pacific, and internationally. The company operates the Now platform for end-to-end digital transformation, artificial intelligence, machine learning, robotic process automation, process mining, performance analytics, and collaboration and development tools.